In this engaging conversation, Manuel Castells, a prominent sociologist known for his analysis of the network society, joins Paul Mason to discuss the emergence of alternative economic cultures post-2008 crisis. Castells highlights how grassroots movements like Occupy challenge traditional capitalism and promote non-capitalist practices such as bartering and cooperatives. He emphasizes the cultural shifts stemming from growing disillusionment with political systems and critiques consumerism, advocating for deeper human needs beyond materialism.
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Four-Layer Economy
A four-layer economy has emerged post-crisis.
It includes a weakened public sector, a concentrated private sector, struggling traditional businesses, and new post-capitalist activities.
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Non-Capitalist Practices
Non-capitalist economic practices are expanding.
These include bartering, social currencies, cooperatives, self-management, and free service networks.
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Drivers of Alternative Economies
The expansion of alternative economies is driven by both need and values.
Consumers, unable to consume traditionally, seek meaningful alternatives.
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Seven Secrets of Wealth Preservation in the Coming Chaos
James Rickards
In *Aftermath*, James Rickards analyzes the current state of global financial markets, arguing that they are artificially inflated due to factors such as investor optimism around the Trump administration, low interest rates, and the influence of behavioral economics. The book provides seven secrets for wealth preservation, discussing topics like the manipulation of 401(k) funds, the risks of digital currencies, and the limitations of passive investing. Rickards also outlines what the financial landscape might look like after the next crisis and offers practical advice on how to prepare and protect one's assets.
Paul Mason interviews renowned sociologist Prof Manuel Castells about the rise of alternative economic cultures since the financial crisis. Recorded in front of an audience at the London School of Economics on Monday 8th October.
The financial crisis which has unfolded since 2008 marks more than an economic downturn, according to Prof Castells. The problems which caused the crisis are so deep rooted that they have provoked a profound reassessment of our economic beliefs and institutions. They have also given rise to social movements such as Occupy and alternative economic cultures opposed to financial capitalism. These ideas are explored in "Aftermath: The Cultures of the Economic Crisis", a book edited by Prof Castells.
Manuel Castells is Professor of Sociology, and Director of the Internet Interdisciplinary Institute at the Open University of Catalonia (UOC), in Barcelona. He is also University Professor and the Wallis Annenberg Chair Professor of Communication Technology and Society at the Annenberg School of Communication, University of Southern California, Los Angeles.
Paul Mason is the Economics Editor of BBC 2's Newsnight programme. His books include Meltdown: The End of the Age of Greed; and Why It's Kicking Off Everywhere: The New Global Revolutions.
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